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Access Bank Plc New Appointment

Access Bank Plc New Appointment

  Access Bank has announced the appointment of Dr. Gregory Ovie Jobome, as Executive Director, Risk Management Division. Dr. Jobome is a thorough bred banking profession with excellent academic pedigree.  He obtained a First Class Degree in Economics from the University of Maiduguri in 1986 and a Distinction in Master of Business Administration from Obafemi […]

GT Bank Manager Denies In Court

GT Bank Manager Denies In Court

  Nwachukwu Amazu, head of the fund transfer unit of Guaranty Trust Bank (GT.BANK), on Wednesday denied knowledge of the documents his bank sent to the Economic and Financial Crimes Commission (EFCC) on Senate President Bukola Saraki. ‎Nwachukwu, who is the second prosecution witness in the trial of Saraki at the Code of Conduct Tribunal […]

CBN – BDCs Working Towards Closing Inter-Bank, Parallel Exchange Rate Margin

CBN – BDCs Working Towards Closing Inter-Bank, Parallel Exchange Rate Margin

The meeting held  between the Central Bank of Nigeria (CBN) and the Bureau De Change (BDC) operators last week was focused  on ways to improve liquidity and to reduce the huge spread between the inter-bank and parallel market rates. Part of the outcome of that meeting was an agreement on uniform exchange rate for the […]

Nigeria Self Sufficient In Rice Production – CBN

Nigeria Self Sufficient In Rice Production – CBN

  The Branch Controller, Central Bank of Nigeria, Awka, Mr. Chuks Sokari, on Wednesday said the country was gradually becoming self-sufficient in rice production going by its availability during the Yuletide. Sokari said this during a town hall meeting in Awka with stakeholders involved in the CBN’s Anchor Borrowers Programme for rice production in Anambra. […]

Equity Market Sheds – N33bn 23 Stock Loss

Equity Market Sheds – N33bn 23 Stock Loss

  The Nigerian equities market, on Tuesday, depreciated by N33bn as 33 stocks recorded losses at the close of trading. The Nigerian Stock Exchange market capitalization dropped to N9.041tn from N9.074tn, while the All-Share Index closed at 26,278.20 basis points from 26,373.83 basis points. A total of 371.867 million shares worth N1.714bn exchanged hands in […]

Bitcoin and Central Bank Of Nigeria

Bitcoin and Central Bank Of Nigeria

The Central Bank of Nigeria (CBN) has barred deposit money banks and all other financial institutions from the operation of any form of virtual currency. The warning by the apex bank yesterday was contained in a circular by the CBN Director of Financial Policy and Regulation Department, Mr. Kevin Amugo, Virtual currencies (VCs) such as […]

Osibanjo And Naira Exchange Rate

Osibanjo And Naira Exchange Rate

  Vice President Yemi Osinbajo said on Tuesday that Nigeria will  close the gap between the official and black market rates for the Naira against the dollar “very soon”, “The gap between the official and parallel market… it isn’t helpful,” he told reporters at the World Economic Forum in Davos. “If you look at the economic […]

Naira To Revenge Dollars This Week

Naira To Revenge Dollars This Week

  Economic and financial experts have said the naira may reverse this week the loss it recorded against the United States dollar last week. Owing to increased scarcity of the dollar, the naira fell from 490/dollar to 497/dollar during the past week. Currency and financial experts, however, linked the loss recorded by the local unit […]

$1bn in Two Weeks-External Reserves

$1bn in Two Weeks-External Reserves

Nigeria’s external reserves have hit $26.968bn, almost the $27bn mark, the latest statistics posted on the Central Bank of Nigeria website have shown that the reserves rose to $26.968bn on January 13 from $26.765bn on January 11, having hit $26.658bn and $26.552bn on January and 10 and January 11, respectively. Between December 30, 2016 and January […]

Primary Mortgage Banks In Trouble

Primary Mortgage Banks In Trouble

  Crisis come into view in indistinct and enlarged form in the nation’s financial system as lack of funds hits the Primary Mortgage Banking (PMB) segment, It was learnt that the situation which has become critical for one of the mortgage banks, as it no longer honours depositors’ claims, may soon result in its collapse and […]

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